Reuters – Sat, Jul 21, 2012 Nigeria’s interbank lending rates climbed to an average of 15 percent this week, compared with 14.33 percent last week, after large cash withdrawals by state-owned oil firm NNPC, flows to bonds and foreign exchange purchases drained liquidity. Market liquidity closed negative this week after NNPC recalled […]
Tag: Nigeria’s Interbank
Nigerian interbank rates up on naira cash shortage
Nigeria’s interbank lending rates rose slightly this week to an average of 15.33 percent, from 15.16 percent last week, as naira liquidity fell, on large outflows to foreign exchange purchases, traders said on Friday. Nigeria’s central bank had sold a total of $601 million at its bi-weekly foreign exchange auction […]
